Speaker 1: Hey everyone, my name is Ned. I'm the co-founder and CEO of 365. We've helped more than two and a half million people worldwide acquire career-enhancing skills. Today, I want to share my personal experience with you. After graduating from university, it took about a year to land my first finance job as an M&A advisor, followed by three more years to transition into a financial analyst position at Coca-Cola. But is it possible to become a financial analyst in a shorter time? Absolutely. I believe the answer is a resounding yes. But a roadmap, which I initially lacked, and an understanding of the essential skills are crucial for job readiness. I have often asked myself if I could start over in finance, knowing what I know today, what would be the best way to land a job sooner and succeed? In this video, I'll address this question, and hopefully my knowledge will help you get hired as a financial analyst, even if you're a beginner. Watch until the end to learn about the mistakes I've made so you can avoid them in your journey. Okay, great. Before we get started, I would like to ask you a favor. Please press the like button and subscribe to this channel. If you're interested in landing a career in finance, our videos will prove helpful. Right, so what's the first step to becoming a financial analyst? I don't need to think twice. The obvious answer is to start with Excel. There's no way around it, at least for the foreseeable future. We'll see how ChatGPT's data analysis tool will develop in several years, but for now, Excel is the tool you'll use for all your work. In finance, lacking Excel skills is akin to being a handyman without a toolbox. At the onset of my career, I fell into a common trap of beginner's overconfidence, believing myself proficient in Excel after a university course and mastering basic functions. I overlooked the vast extent of what I had yet to learn. To excel in finance, one must master data entry, keyboard shortcuts, essential formulas, VLOOKUP, INDEX, MATCH, SUMIFS, COUNTIFS, pivot table creation and editing, slicers, charting, and tools like data validation, duplicate removal, and scenario analysis. Excel is such a powerful software. I can't stress enough that every effort you make during your prep stage will pay off a hundredfold throughout your career. Ideally, you'll learn from a resource that shows you finance examples along the way and teaches you techniques that you can directly apply to your analyses later. The 365 Program's Excel courses show how financial analysts utilize Excel, highlighting how professionals across fields engage with spreadsheet tools. It's beneficial to learn from someone who's already navigated the career path you're pursuing. Once you feel comfortable with Excel, it's time to focus on accounting. To excel as a financial analyst, you must grasp debits and credits, comprehend the components of the profit and loss statement and the balance sheet, and know how to calculate cash flow and interlink the P&L, balance sheet, and cash flow statement. To fully grasp accounting, dedicate hours to learning and practice, especially in identifying debit and credit entries in financial operations. Early in my career, lacking an audit background disadvantaged me. Comprehending, bookkeeping, and broader financial concepts without understanding these entries is challenging. Therefore, strong accounting skills are essential. You're now prepared for these real-life projects. Develop a profit and loss statement from scratch. Examine product profitability and display various breakdowns, including year-on-year growth. Construct and integrate a cash flow statement with the P&L and balance sheet. Compare multiple financial periods side-by-side. Chart financial data. Professionally format your sheets. Engaging in independent projects offers practical insights into a financial analyst's role before entering the workforce. This proactive approach enhances internship performance and significantly boosts job offer prospects. Trust me. For access to complementary real-world projects and data sets for practice, check out the Projects section at 365financialanalyst.com. The link is provided in the video's description. In 2024, you can benefit from the immense power of tools like ChatGPT, which was once unimaginable when I applied for financial analysts' jobs. ChatGPT can assist with Excel challenges, tackle complex spreadsheet scenarios covered in our course, and provide guidance on accounting transactions or complex concepts. As one of humanity's most significant repositories and tools, I strongly recommend dedicating time to learning to utilize its capabilities thoroughly. Of course, a financial analyst needs more than just accounting, Excel, and financial analysis. I highly recommend exploring subjects like corporate finance, financial math, FP&A, financial reporting, financial ratios, financial modeling, valuation, industry analysis, and management accounting. While optional for many financial analysts, mastering these can be highly beneficial. Each topic is thoroughly covered in our courses at 365 Financial Analyst. Concluding this video, it's clear that ambition and dedication are key to securing your dream. Stay motivated, keep learning, and you'll achieve a transformative career. It's up to you to make it happen. Please be sure to like this video, subscribe to the channel, and activate notifications. We'll continue to share career videos to help you on your journey to landing your dream job. If you want to get job-ready for a successful career in finance, go ahead and subscribe to the 365 Financial Analyst platform today.